Archrock (NYSE:AROC) Stock Rating Lowered by Zacks Research

Archrock (NYSE:AROC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

Other equities analysts also recently issued reports about the company. Raymond James Financial reissued an “outperform” rating and set a $46.00 price objective on shares of Archrock in a research report on Thursday, May 7th. Evercore set a $40.00 price target on shares of Archrock in a report on Monday, August 17th. Citigroup increased their price objective on shares of Archrock from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.29.

Archrock Stock Up 0.7%

Shares of NYSE AROC opened at $31.73 on Monday. The stock has a market cap of $5.56 billion, a P/E ratio of 17.06, a PEG ratio of 1.52 and a beta of 0.86. The company has a current ratio of 1.39, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. Archrock has a 12-month low of $22.88 and a 12-month high of $42.23. The business’s fifty day simple moving average is $35.65 and its 200-day simple moving average is $35.79.

Archrock (NYSE:AROC) last released its earnings results on Wednesday, August 5th. The energy company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). Archrock had a return on equity of 22.22% and a net margin of 21.84%.The company had revenue of $371.24 million for the quarter, compared to analyst estimates of $393.19 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that Archrock will post 1.73 EPS for the current fiscal year.

Institutional Trading of Archrock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AROC. Corient Private Wealth LP lifted its position in shares of Archrock by 20.0% during the 2nd quarter. Corient Private Wealth LP now owns 60,846 shares of the energy company’s stock worth $2,477,000 after buying an additional 10,140 shares during the last quarter. Amundi grew its position in shares of Archrock by 10.2% in the 2nd quarter. Amundi now owns 69,276 shares of the energy company’s stock valued at $2,820,000 after buying an additional 6,422 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Archrock during the 2nd quarter worth $448,000. California State Teachers Retirement System raised its stake in Archrock by 3,778.9% during the 2nd quarter. California State Teachers Retirement System now owns 7,859,880 shares of the energy company’s stock worth $319,976,000 after acquiring an additional 7,657,246 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Archrock by 4.2% in the second quarter. Concurrent Investment Advisors LLC now owns 8,856 shares of the energy company’s stock valued at $361,000 after acquiring an additional 356 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.